Washington’s next fiscal giveaway: a bailout for wealthy homeowners living along risky, hurricane-prone coastlines. Attempting to find a solution to rising homeowners’ insurance rates, the House Financial Services Subcommittee on Oversight and Investigations held a hearing on July 2, 2009 to discuss the Homeowners’ Defense Act as a possible solution.
Obama’s $106 Billion War Supplemental
On April 9, 2009, the Office of Management and Budget (OMB) released a summary of the administration’s proposed fiscal year 2009 Supplemental Appropriations Act, stating that it “is the last planned war supplemental.” In the bill, President Obama sought $83.4 billion to fund “ongoing military, diplomatic, and intelligence operations.” The OMB release stated that “the President will not tolerate it being turning into a vehicle for political projects. He has made it very clear to Congress that he will not accept any earmarks in the bill – and he will not tolerate the bill being loaded up with unrelated items. The era of irresponsibility is ending.”
Don’t Ground the Presidential Helicopter Program
The presidential helicopter has always provided the media with a picturesque backdrop for the president. One of the most famous images is President Nixon waving goodbye to the White House for the last time on August 9, 1974 from the top step of the helicopter.
Joint Strike Fighter: Platform for Waste?
Designed for service by the Navy, Air Force, Marine Corps and eight international partners, the Joint Strike Fighter (JSF) program is expected to produce an aircraft with a few variations that will ultimately replace the in-service F-16 and F/A-18 aircraft. However, the program has long come under fire as being over-priced and behind schedule.
Waste and Fraud at the Central Intelligence Agency
Waste and fraud at the Central Intelligence Agency not only squanders taxpayers’ money but also endangers American lives. When money is diverted away from intelligence missions on rogue state nuclear threats, for example, Americans are at risk.
Old Porkers Learn New Tricks
On September 24, the House of Representatives passed the fiscal year 2009 Defense Authorization Act by a vote of 392-39. The Senate will approve the legislation as well. It includes more than $600 billion for national security programs in the Energy and Defense departments.
Department of Defense Delays Air Force Tanker Contract Decision…Again
The Department of Defense (DoD) has once again flip-flopped with regard to the awarding of a $40 billion Air Force aerial refueling tanker contract.
Incensed Over Incentives
H.R. 3221, the housing bailout bill that President Bush signed on July 23, 2008 is a $300 billion handout to home builders, mortgage companies who made bad loans and borrowers who took loans for homes they could not afford. The bill was exacerbated by the last-minute inclusion of a potential $25 billion (or more) taxpayer subsidy for the nation’s two mammoth government-sponsored enterprises, Fannie Mae and Freddie Mac. Despite claims that the money would not be used, the taxpayers may be on the hook sooner rather than never. It turns out that there were other nasty surprises tucked into the bill as well.
Caution: Porkers at Work
While summer has almost come to an end, the only appropriations bill that has come to a full vote in either chamber of Congress this year is the Military Construction-VA spending bill (H.R. 6599). The action taken on this bill, however, offers a preview of what taxpayers can expect with the eleven remaining spending bills.
Deadly Earmarks
Earmarks can be deadly, according to Air Force Reserve Maj. Eric Egland. Egland, a counter-terrorism operative, military intelligence officer and Iraq War veteran, wrote an opinion piece in The Washington Times on July 2 asserting that national security earmarks are being abused, with disastrous consequences.